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House proposal targets charitable deductions for conservation easements by passthrough entities

USA - September 20 2021 On Sept. 13, 2021, the U.S. House Ways and Means Committee announced a proposal to limit charitable deductions for conservation easement…

G. Michelle Ferreira, Courtney A. Hopley.

IRS Secures Two Court Victories Involving Foreign Financial Activity

USA - August 4 2021 On July 28, 2021, the IRS secured two victories in court. The first win allows the IRS to impose an additional 35% penalty on an individual as the…

Jared E. Dwyer, G. Michelle Ferreira, Scott E. Fink, Courtney A. Hopley, Shira Peleg, Jennifer A. Vincent.

The IRS Announced a New Non-Filer Initiative Over a Year Ago - Now We See the Enforcement

USA - June 14 2021 In February 2020, the IRS announced that it would step up efforts to contact high-income taxpayers (defined as earning $100,000 or more per year)…

G. Michelle Ferreira.

The IRS Continues Aggressive Use of John Doe Summonses to Investigate Tax Evasion Related to Use of Cryptocurrency, Offshore Service Providers

USA - May 12 2021 Recent John Doe summonses show the IRS is expanding its use of those summonses to aggressively investigate potential tax evasion. Within the past…

Shira Peleg.

IRS Establishes Office of Promoter Investigations with Emphasis on Conservation Easements and Micro-captive Insurance Arrangements

USA - April 21 2021 On April 19, 2021, the IRS announced the establishment of a new Office of Promoter Investigations (OPI). The creation of OPI demonstrates the IRS's…

Shira Peleg.